HomeMy WebLinkAboutHousing Catalyst - Minutes - 02/28/2002FORT COLLINS HOUSING AUTHORITY BOARD OF COMMISSIONERS
Minutes of the Rescheduled Regular Meeting of the Fort Collins Housing Authority
February 28, 2002
Commissioners Present
Chip Steiner
Patrick Brady
Mike Sollenberger
Charles Wanner
Kimberly Stenberg
Lucia Liley
I. CALL TO ORDER
Commissioners Absent Others Present
James Martel
Staff Present
Julie Brewen
Alan Fluharty
Carol Swartz
Chairperson Patrick Brady called the regular meeting of the Fort Collins Housing Authority to order at
7:40 a.m.
II. CITIZEN INPUT
There was no citizen input.
III. APPROVAL OF MINUTES
The Board reviewed the minutes from the January 31, 2002 regular meeting and February 21, 2002
special meeting of the Fort Collins Housing Authority. Commissioner Sollenberger made a motion to
approve these minutes. The motion was seconded by Commissioner Steiner and passed unanimously.
IV. OLD BUSINESS
1) Rigden Farm Update: Commissioner Brady gave the Board an update on Rigden Farm, stating Sierra
Land Corporation may not be willing to assume any risk. Sierra Land Corporation is hoping to close
on the land on March 22, 2002. The issues at hand are marketability, FCHA's risk, and procurement
issues related to land value. After some discussion Commissioner Sollenberger made a motion,
seconded by Commissioner Stenberg to inform Sierra Land Corporation that these issues must be
addressed before proceeding and that it may take up to six months for this due diligence.
Chip Steiner Yea
Mike Sollenberger Yea
Charles Wanner Yea
Kimberly Stenberg Yea
Patrick Brady Yea
Lucia Liley Abstained
Commissioner Sollenberger formally recognized the efforts of everyone who has been involved in the
project to date.
Commissioner Wanner stated the City Council will be interviewing for the resident Commissioner
position.
Wellington Point Update: Ms. Brewen updated the Board on the Wellington Point Tax Credit Project.
Commissioner Liley would like the Board to review the financial data at the next meeting.
V. NEW BUSINESS
Sleepy Willow Acquisition: Ms. Brewen presented the Board with information on the Fort Collins
Housing Corporation's acquisition of the Sleepy Willow apartments. She stated that the market supports
the sale price, and with grants the project will support 30 to 50% AMI rent levels. The Fort Collins
Housing Corporation's offer was accepted by the owners and closing is anticipated in early June.
Resolutions 02-02 and 02-03 Commissioner Stenberg made a motion to approve Resolution No. 02-02,
Fiscal Year 2001 Public Housing Assessment System Management Operations Certification and
Resolution 02-03, Fiscal Year 2001 Section 8 Management Assessment Program Certification. The
motion was seconded by Commissioner Liley and passed unanimously
Neighbor to Neighbor Re -Finance: Commissioner Liley voice having a conflict of interest on this subject
and dismissed herself from the meeting at the time this discussion started. Mr. Martell expressed some
concerns on the loan documents for the Neighbor to Neighbor loan through First National Bank. After
some discussion it was unanimously decided not to close on the loan until the issues brought forth by Mr.
Martell are addressed.
VI. REVIEW OF MONTLY ACTIVITY REPORT
The Board reviewed the Monthly Activity Report and staff answered all questions.
VII. ADJOURNMENT
Chairperson Brady adjourned the regular meeting of the Fort Collins Housing Authority Board at 9:29
a.m. The next regular meeting will be held on March 28, 2002.
this 28'" day of March 2002.
ck Brady, Chairperson
Collins Housing Authority
J4 J. BrewedSecretary
Fort Collins Housing Authority